Friday, March 30, 2012
According to OECD economic surveys of the Euro area and the European Union issued on March 27, in 2012, decisive and immediate short-term measures are required to fully stabilise vulnerable euro area sovereigns and ambitious structural reforms are needed to boost growth, improve debt sustainability and rebalance the economy.
Presenting the report, OECD Secretary General Angel Gurria stressed that austerity policies were not an end in itself but a necessary tool in order to achieve economic recovery. Concerning Greece, he characterized the "coordinated restructuring of the Greek debt as a positive development" yet, the road to economic growth is still a long one. 
Gurria called on the Eurozone leaders to consider raising the threshold of financial support to over €1 trillion over the coming two years in order to protect the Eurozone’s weakest countries.
Speaking at the presentation, EU Commissioner for Economic and Monetary affairs Olli Rehn highlighted that "more work needs clearly to be done to strengthen [the Eurozone] further and to complete and deepen the single market".
OECD Report: Video Presentation; Greek News Agenda: OECD: Greece’s Progress towards Structural Reforms
